RADHESHYAM KHANDELWAL,INDORE vs. ACIT4(1), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

2 per share Total purchase consideration paid Rs. 20, 000/- Rs. 20, 000/- Rs. 20, 000/- Rs. 20, 000/- Date of shares sold 23.07.2013 06.09.2013 19.10.2013 24.09.2013 (3000 shares), (10000 shares) (10000 shares) 03.09.2013 (3000 shares) and 10.09.2013 (4000 shares) Sale Price per share Rs. 314.88, Rs. 276.70 Rs. 178. 85 Rs. 182.60 Rs. 151.25 per share per share

SHRI SURESH KHANDELWAL,INDORE vs. THE ITO-4(1), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

2 per share Total purchase consideration paid Rs. 20, 000/- Rs. 20, 000/- Rs. 20, 000/- Rs. 20, 000/- Date of shares sold 23.07.2013 06.09.2013 19.10.2013 24.09.2013 (3000 shares), (10000 shares) (10000 shares) 03.09.2013 (3000 shares) and 10.09.2013 (4000 shares) Sale Price per share Rs. 314.88, Rs. 276.70 Rs. 178. 85 Rs. 182.60 Rs. 151.25 per share per share

MOHANLAL KHANDELWAL,INDORE vs. THE ITO-4(1), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

2 per share Total purchase consideration paid Rs. 20, 000/- Rs. 20, 000/- Rs. 20, 000/- Rs. 20, 000/- Date of shares sold 23.07.2013 06.09.2013 19.10.2013 24.09.2013 (3000 shares), (10000 shares) (10000 shares) 03.09.2013 (3000 shares) and 10.09.2013 (4000 shares) Sale Price per share Rs. 314.88, Rs. 276.70 Rs. 178. 85 Rs. 182.60 Rs. 151.25 per share per share

SMT. SANDHYA KHANDELWAL,INDORE vs. ITO 4(3), INDORE

In the result, all the captioned appeals filed by different

Bench: Hon’Ble Madhumita Royassessment Year 2014-15

2 per share Total purchase consideration paid Rs. 20, 000/- Rs. 20, 000/- Rs. 20, 000/- Rs. 20, 000/- Date of shares sold 23.07.2013 06.09.2013 19.10.2013 24.09.2013 (3000 shares), (10000 shares) (10000 shares) 03.09.2013 (3000 shares) and 10.09.2013 (4000 shares) Sale Price per share Rs. 314.88, Rs. 276.70 Rs. 178. 85 Rs. 182.60 Rs. 151.25 per share per share

SHRI HAKIMUDDIN KHAMBATI,INDORE vs. ITO-4(4) RANGE-4, INDORE

In the result appeal of the assessee in ITA No

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

Section 10(38) of the Act for Long Term Capital Gain from sale of share from Kappac Pharma Ltd and made the addition for Long Term Capital Gain claimed by the assessee. Apart from this Ld. Hakumuddin Khambati & Anr ITA No.288 & 410/Ind/2019 A.O has commonly concluded that both the Turbotech Engineering Ltd and Kappac Pharma Ltd are small and penny

SMT. MANISHA AGRAWAL,INDORE vs. THE ITO-4 (3), INDORE

In the result appeal of the assessee in ITA No

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2014-15

Section 10(38) of the Act for Long Term Capital Gain from sale of share from Kappac Pharma Ltd and made the addition for Long Term Capital Gain claimed by the assessee. Apart from this Ld. Hakumuddin Khambati & Anr ITA No.288 & 410/Ind/2019 A.O has commonly concluded that both the Turbotech Engineering Ltd and Kappac Pharma Ltd are small and penny

M/S SHREE JAIRAM EDUCATION SOCIETY,BHOPAL vs. PR. CIT (CENTRAL), BHOPAL

In the result, appeal of the assessee in ITANo

Bench: Hon’Ble Rajpal Yadav & Shri Manish Boradvirtual Hearing

127(2) of the Act along with transferring PAN of the assesse society from DCIT(E), Bhopal to ACIT(central) -2 Bhopal. Once the PAN is migrated then CIT(E) seize to have any jurisdiction over the assessee with regard to any of proceedings under the Act. We accordingly dismiss the additional grounds raised by the assessee. Shri Jairam Education

M/S SHREE JAIRAM EDUCATION SOCIETY,BHOPAL vs. ACIT CENTRAL-II, BHOPAL

In the result, appeal of the assessee in ITANo

Bench: Hon’Ble Rajpal Yadav & Shri Manish Boradvirtual Hearing

127(2) of the Act along with transferring PAN of the assesse society from DCIT(E), Bhopal to ACIT(central) -2 Bhopal. Once the PAN is migrated then CIT(E) seize to have any jurisdiction over the assessee with regard to any of proceedings under the Act. We accordingly dismiss the additional grounds raised by the assessee. Shri Jairam Education

SMT. SHEELA AGRAWAL,INDORE vs. ITO-5(5), INDORE

In the result, all three appeals of two assessee are allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

127 (Delhi –Trib) 8. He has submitted that in the above decisions when the investment was made in the Penny stock companies and assessee failed to establish the genuineness of rise of price of the shares within a short period of time then the AO has reached a reasonable conclusion in treating the transactions as bogus and capital gain

ANKUR AGRAWAL,INDORE vs. ITO-5(1), INDORE

In the result, all three appeals of two assessee are allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

127 (Delhi –Trib) 8. He has submitted that in the above decisions when the investment was made in the Penny stock companies and assessee failed to establish the genuineness of rise of price of the shares within a short period of time then the AO has reached a reasonable conclusion in treating the transactions as bogus and capital gain

SMT. SHEELA AGRAWAL,INDORE vs. ITO-5(5), INDORE

In the result, all three appeals of two assessee are allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

127 (Delhi –Trib) 8. He has submitted that in the above decisions when the investment was made in the Penny stock companies and assessee failed to establish the genuineness of rise of price of the shares within a short period of time then the AO has reached a reasonable conclusion in treating the transactions as bogus and capital gain

MANISH CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

capital gains earned during the year were duly disclosed. The case was not picked up for scrutiny. The time limit to issue notice u/s 143(2) for the year had already expired on 30/09/2011. No proceedings were pending against the assessee for this year on the date of search. Hence, it was non- abated year. Therefore, the addition, which could

MANISH CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

capital gains earned during the year were duly disclosed. The case was not picked up for scrutiny. The time limit to issue notice u/s 143(2) for the year had already expired on 30/09/2011. No proceedings were pending against the assessee for this year on the date of search. Hence, it was non- abated year. Therefore, the addition, which could

PAWAN KUMAR CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

capital gains earned during the year were duly disclosed. The case was not picked up for scrutiny. The time limit to issue notice u/s 143(2) for the year had already expired on 30/09/2011. No proceedings were pending against the assessee for this year on the date of search. Hence, it was non- abated year. Therefore, the addition, which could

ASHISH CHHAPARIA,MUMBAI vs. ITO BURHANPUR, BURHANPUR

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

capital gains earned during the year were duly disclosed. The case was not picked up for scrutiny. The time limit to issue notice u/s 143(2) for the year had already expired on 30/09/2011. No proceedings were pending against the assessee for this year on the date of search. Hence, it was non- abated year. Therefore, the addition, which could

PRATAP BAJAJ,INDORE vs. ITO-4(1) INDORE, INDORE

In the result, appeals of the assessee(s) namely Smt

Bench: Hon’Ble Rajpal Yadav & Hon’Ble Manish Boradvirtual Hearing Assessment Year 2014-15

2) and 142(1) of the Act. While examining the records and details filed by the assessee, Ld. A.O observed that the assessee has claimed exemption u/s 10(38) of the Act at Rs.28,47,833/- on sale of equity shares in the name of the company Sunrise Asian Ltd. 6,000 equity shares of M/s. Conart Traders Ltd were

MANORAMA DEVI SHARMA,INDORE vs. ITO-3(1), INDORE

In the result, appeals of the assessee(s) namely Smt

Bench: Hon’Ble Rajpal Yadav & Hon’Ble Manish Boradvirtual Hearing Assessment Year 2014-15

2) and 142(1) of the Act. While examining the records and details filed by the assessee, Ld. A.O observed that the assessee has claimed exemption u/s 10(38) of the Act at Rs.28,47,833/- on sale of equity shares in the name of the company Sunrise Asian Ltd. 6,000 equity shares of M/s. Conart Traders Ltd were

ASSISTANT COMMISSIONER OF INCOME TAX (CENTRAL)-1, INDORE vs. SHRI RITESH JAIN, INDORE

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani & It(Ss)Ano.14/Ind/2022 (Assesssment Year 2011-12

127 DTR 241 that violation of principle of natural justice (here withholding of back material referred in reasons which is specifically requested for repeatedly) is a serious flaw and results in nullity of the order so passed, which is squarely applicable to present case. Be that as it may, even on merits, for the companies from where assessee recd. share